Sunland Corporation issued $104,000$ shares of $$19$ par value, cumulative, $9\%$ preferred stock on January $1,2021,$ for $$2,590,000.$ In

December $2023,$ Sunland declared its first dividend of $$770,000.$

$($a$)$

Prepare Sunland's journal entry to record the issuance of the preferred stock. $($Credit account titles are automatically indented when

amount is entered. Do not indent manually. If no entry is required, select $"$No Entry" for the account titles and enter O for the amounts.$)$

eTextbook and Media

List of Accounts

Save for Later

Using multiple attempts will impact your score.

$10\%$ score reduction after attempt $3$

Attempts: $0$ of $5$ used

Qestion Part Score

$($b$)$